Rupee appreciation exclusion for non resident holders of rupee bonds alters computation of full value of consideration. Section 48 is amended to treat rupee denominated bonds held by non residents such that gains from rupee appreciation at redemption are ignored in computing full value of consideration; the word 'subscribed' is replaced by 'held' in the fifth proviso. The Explanation to indexed cost of acquisition is amended to replace the reference to 1st April 1981 with 1st April 2001, changing the Cost Inflation Index base. The amendments take effect from 1st April 2018 and apply to the subsequent assessment year.